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Beginning Farmer & Rancher Program
The Washington State Housing Finance Commission in partnership with Northwest Farm Credit Services is offering loans for qualifying beginning farmers/ranchers that can be combined with other loans, grants and other sources of funds. The Beginning Farmer/Rancher Bond Program is a tax-exempt bond program designed to assist beginning farmers/ranchers in the state of Washington acquire agricultural property at lower interest rates.
NEWS
& HIGHLIGHTS
- Descripción del Programa en Español (PDF)
- My View from the Executive Director | December 2010
- Cultivate the Soil: Resources for Beginning & Small-Scale Farmers & Ranchers in WA
- Farm to Cafeteria Connections: Marketing Opportunities for Small Farms in WA
- Media Release: Beginning farmers purchase their first farms
- WSDA Small Farm & Direct Marketing Handbook
- Washington State Farmers Market Manual
WHAT IS THE CURRENT LOAN AMOUNT?
Loans financed with proceeds of tax-exempt bonds issued by the Commission are currently available up to a maximum amount of $477,000 (including up to $250,000 for depreciable farm property and up to $62,500 for used equipment/personal property), which may be combined with other loans, grants and other sources of funds for larger projects.
WHO IS ELIGIBLE?
Individuals or families who have not had any direct or indirect ownership
interest in farmland in the operation of which such individual materially
participated. Or, those who have owned and operated a farm or ranch that was
less than 30% of the county’s median farm size.
Median Farm Size Chart (Word)
A beginning farmer/rancher must be at least 18 years old, a Washington State resident, and must have sufficient education, training and experience in the type of farming operation for which the bond is requested.
Corporations, partnerships, limited liability companies, etc. are ineligible.
WHAT ABOUT OTHER REQUIREMENTS?
The beginning farmer/rancher(s) and/or their children must directly manage and perform the labor for the farming operation. Off-farm income is permitted. The agricultural land, agricultural improvements and depreciable farm property acquired with proceeds of the bond must be used for farming purposes during the term of the bond.
WHAT CAN BE FINANCED?
- Acquisition of agricultural land
- Acquisition, construction and/or improvement of buildings, structures and fixtures to be used in the business of farming and/or ranching
- Depreciable farm property
- Machinery and equipment
- Animals for breeding, work, meat production and dairy
WHAT IS THE APPLICATION PROCESS?
Contact Wendy Knopp at Northwest Farm Credit Services prior to sending application or if you have questions about loan terms and qualifications: (509) 340-5476 or email wendy.knopp@farm-credit.com
Please contact us if you have questions concerning initial Program eligibility:
- Dan Schilling, Senior Finance Associate
Multifamily Housing & Community Facilities Division
206.287.4415 or 800.767.4663 | dan.schilling@wshfc.org - David Clifton, Assistant Director
Multifamily Housing & Community Facilities Division
206.287.4407 or 800.767.4663 | david.clifton@wshfc.org
Please contact us if you require assistance downloading this form:
- askusCP@wshfc.org or ask for Viet at 206.464.7139 or 800.767.4663
04/15/2011